Russia's Menatep to expand into Polish telecoms through formation of GTS

GTS, a new company controlled by Russian financial group Menatep, has announced plans to enter the stationary phone market. Russia's presence on the Polish telecom market is due to the acquisition of the bankrupt KPNQwest by Antel, which is also owned by Menatep, for euro 36.5 million. KPNQwest previously offered telecom services in the Czech Republic, Romania, Hungary and Slovakia by the name of GTS Central Europe. In Poland the company's activities to date have been limited to their controlling interest in Internet Partners, an Internet Service Provider, though Antel is also planning further investments in Poland. According to unofficial information, it is one of the companies likely to take part in a tender organized by the National Bank of Poland (NBP), for a controlling stake in Telbank, which provides telecom services for the financial sector. The tender for Telbank, which recorded revenues of over zl. 130 million last year, is to take place this year. Other potential candidates are Tel-Energo and investment funds controlled by Enterprise Investors. Menatep controls assets worth $20 billion, including a 61% stake in Yukos, a Russian oil concern. (Parkiet, p. 4) A.K.